{"id":23184,"date":"2023-08-30T18:06:21","date_gmt":"2023-08-30T18:06:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-spot-etf-expert-says-sec-has-very-little-wiggle-room\/"},"modified":"2023-08-30T18:06:21","modified_gmt":"2023-08-30T18:06:21","slug":"bitcoin-spot-etf-expert-says-sec-has-very-little-wiggle-room","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-spot-etf-expert-says-sec-has-very-little-wiggle-room\/","title":{"rendered":"Bitcoin spot ETF? Expert says SEC has &#8220;very little wiggle room&#8221;"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1693416746228-068854bf-a9b7-4140-8638-6ffcc57f1bff-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1693416746228-068854bf-a9b7-4140-8638-6ffcc57f1bff-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1693416746228-068854bf-a9b7-4140-8638-6ffcc57f1bff-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1693416746228-068854bf-a9b7-4140-8638-6ffcc57f1bff-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">ETF analyst Eric Balchunas and James Seyffart say the odds of a Bitcoin spot ETF approval this year are 75%.<\/li>\n<li dir=\"ltr\">The Bloomberg ETF analysts say the SEC has \u201cvery little wiggle room\u201d and that denying spot ETFs further would be \u201cpolitically untenable\u201d.<\/li>\n<li dir=\"ltr\">The SEC has suffered both legal and PR loss after Grayscale\u2019s win.<\/li>\n<\/ul>\n<p dir=\"ltr\">The US Securities and Exchange Commission (SEC) has \u201cvery little wiggle room\u201d now and will soon have to approve the first <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-etf\/\">Bitcoin spot ETF<\/a> for the US market.<\/p>\n<p dir=\"ltr\">That\u2019s Bloomberg ETF analysts Eric Balchunas and James Seyffart\u2019s take after yesterday\u2019s court decision that granted a review petition filed by Grayscale Investments. The odds are up from 65%.<\/p>\n<h2 dir=\"ltr\">Experts say odds of spot ETF have increased<\/h2>\n<p dir=\"ltr\">Balchunas <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1696887691122548798\" rel=\"noopener noreferrer\" target=\"_blank\">shared<\/a> his and Seyffart\u2019s prediction of when the SEC could approve the ETF, noting a 75% probability it happens in 2023 and 95% by the end of next year. Noting that the <a href=\"https:\/\/coinjournal.net\/news\/grayscale-win-against-sec-in-bitcoin-etf-case\/\">SEC\u2019s loss in the Grayscale lawsuit<\/a> had increased odds of a spot ETF finally being approved, the senior ETF analyst said via a post on X:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">NEW: <a href=\"https:\/\/twitter.com\/JSeyff?ref_src=twsrc%5Etfw\">@JSeyff<\/a> &amp; I are upping our odds to 75% of spot bitcoin ETFs launching this yr (95% by end of &#8217;24). While we factored Grayscale win into our prev 65% odds, the unanimity &amp; decisiveness of ruling was beyond expectations and leaves SEC w &#8220;very little wiggle room&#8221; via <a href=\"https:\/\/twitter.com\/NYCStein?ref_src=twsrc%5Etfw\">@NYCStein<\/a> <a href=\"https:\/\/t.co\/IyEGmWjuHa\">pic.twitter.com\/IyEGmWjuHa<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1696887691122548798?ref_src=twsrc%5Etfw\">August 30, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">According to the ETF experts, the SEC has suffered a double loss that leaves further denials \u201cpolitically untenable.\u201d Other than the legal blow that comes with Grayscale\u2019s win, the US regulator is looking at a PR loss that has a far greater impact in terms of setting narratives and changing minds. Mainstream\u2019s coverage of the story and what it implies doesn\u2019t help the agency, Balchunas noted.<\/p>\n<p dir=\"ltr\">\u201c<em>We think the legal and PR loss will combine to make denial politically untenable<\/em>,\u201d Balchunas wrote.<\/p>\n<p dir=\"ltr\">While the SEC could delay upcoming ETF decisions \u2013 or even deny them \u2013 the analysts say the regulator will find it difficult to deny the one by crypto asset management firm Hashdex.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Even if SEC wants to deny all of these applications. We think they would have a very hard time finding a way to deny <a href=\"https:\/\/twitter.com\/hashdex?ref_src=twsrc%5Etfw\">@hashdex<\/a>&#8216;s unique and novel approach for spot Bitcoin exposure in <a href=\"https:\/\/twitter.com\/search?q=%24DEFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DEFI<\/a>. Worries about spot manipulation &amp; settlement should be assuaged. Increasing &#8217;24 odds <a href=\"https:\/\/t.co\/b1HHbbHeEq\">pic.twitter.com\/b1HHbbHeEq<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1696894964423143464?ref_src=twsrc%5Etfw\">August 30, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">The SEC recently <a href=\"https:\/\/coinjournal.net\/news\/sec-delays-decision-on-ark-invest-spot-bitcoin-etf\/\">delayed<\/a> a decision on the Ark 21Shares Bitcoin ETF proposal, while soft deadlines for several filings including for BlackRock, Fidelity and others are coming up.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-spot-etf-experts-say-sec-has-very-little-wiggle-room\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) ETF analyst Eric Balchunas and James Seyffart say the odds of a Bitcoin spot ETF approval this year are 75%. The Bloomberg ETF analysts say the SEC has \u201cvery little wiggle room\u201d and that denying spot ETFs further would be \u201cpolitically untenable\u201d. The [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23184"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23184"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23185"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}